WGU D174 MARKETING MANAGEMENT
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
◉ Primary activities in porter's value chain
Answer: inbound logistics, operations, outbound logistics,
marketing and sales, service
◉ Support Activities in porter's Value Chain
Answer: firm infrastructure, human resource management,
technology development, procurement
◉ What are the 7 steps in the marketing planning process?
Answer: 1. Align with business plan
2. Situation analysis (SWOT)
3. Market research
4. Goals & objectives
5. Strategies
6. Implementation plans
7. Contingency planning
◉ GE Business Screen
,Answer: A method of evaluating businesses along two
dimensions: (1) industry attractiveness and (2) competitive
position; the more attractive the industry and the more
competitive the position, the more an organization should invest
in a business
◉ Name all 5 of Porter's Five Forces
Answer: 1. Threat of Entry
2. Threat of Substitute
3. Supplier power
4. Buyer power
5. Competitive Rivalry
◉ Threat of Entry
Answer: one of porter's five forces that describes the risk that
potential competitors will enter an industry
◉ Threat of Substitutes
Answer: one of porter's five forces that describes the idea that
products or services available from outside the given industry will
come close to meeting the needs of current customers
◉ supplier power
Answer: one of porter's five forces that describes the suppliers'
ability to influence the prices they charge for supplies
, ◉ buyer power
Answer: one of porter's five forces that describes the ability of
buyers to affect the price they must pay for an item
◉ competitive rivalry
Answer: one of porter's five forces that describes the ongoing set
of competitive actions and competitive responses that occur
among firms as they maneuver for an advantageous market
position
◉ Ansoff Matrix
Answer: Analytical tool that helps managers to devise their
product and market growth strategies
◉ Marketing penetration
Answer: a strategy in the ANSOFF matrix that emphasizes
increasing sales of existing products to existing markets
◉ Marketing development
Answer: a strategy in the ANSOFF matrix that emphasizes
introducing existing products to new markets
◉ Product development
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
◉ Primary activities in porter's value chain
Answer: inbound logistics, operations, outbound logistics,
marketing and sales, service
◉ Support Activities in porter's Value Chain
Answer: firm infrastructure, human resource management,
technology development, procurement
◉ What are the 7 steps in the marketing planning process?
Answer: 1. Align with business plan
2. Situation analysis (SWOT)
3. Market research
4. Goals & objectives
5. Strategies
6. Implementation plans
7. Contingency planning
◉ GE Business Screen
,Answer: A method of evaluating businesses along two
dimensions: (1) industry attractiveness and (2) competitive
position; the more attractive the industry and the more
competitive the position, the more an organization should invest
in a business
◉ Name all 5 of Porter's Five Forces
Answer: 1. Threat of Entry
2. Threat of Substitute
3. Supplier power
4. Buyer power
5. Competitive Rivalry
◉ Threat of Entry
Answer: one of porter's five forces that describes the risk that
potential competitors will enter an industry
◉ Threat of Substitutes
Answer: one of porter's five forces that describes the idea that
products or services available from outside the given industry will
come close to meeting the needs of current customers
◉ supplier power
Answer: one of porter's five forces that describes the suppliers'
ability to influence the prices they charge for supplies
, ◉ buyer power
Answer: one of porter's five forces that describes the ability of
buyers to affect the price they must pay for an item
◉ competitive rivalry
Answer: one of porter's five forces that describes the ongoing set
of competitive actions and competitive responses that occur
among firms as they maneuver for an advantageous market
position
◉ Ansoff Matrix
Answer: Analytical tool that helps managers to devise their
product and market growth strategies
◉ Marketing penetration
Answer: a strategy in the ANSOFF matrix that emphasizes
increasing sales of existing products to existing markets
◉ Marketing development
Answer: a strategy in the ANSOFF matrix that emphasizes
introducing existing products to new markets
◉ Product development
